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Rocket Community Fund Invests in “Stable, Healthy Housing” for Underserved Communities

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Detroit resident Romell Johnson had two goals: to construct his savings and begin a brand new profession. Rocket Community Fund, a philanthropic partner of Rocket Companies, helped achieve this with the Rocket Wealth Accelerator program.

The program, launched in late 2022, is a $2 million investment from Local Initiatives Support Corp. (LISC), which promotes financial stability for underserved residents of Detroit, Cleveland, Milwaukee and Atlanta. Designated LISC Financial Opportunity Centers help clients improve emergency fund management, construct credit and construct generational wealth.

Thanks to this system, Johnson was able to avoid wasting $500, buy a brand new automotive and budget for the longer term.

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“I feel unstoppable. I’m more confident in my financial stability if an emergency happens,” Johnson said.

“It made me realize that new goals are possible. Why not work toward buying a house?”

Michael T. Pugh, president and CEO of LISC, said greater than 2,400 people have benefited from financial counseling that focused on topics including constructing emergency savings and saving for a house.

Pugh added, “The Rocket Wealth Accelerator matched savings program has already unlocked $280,000 for community members. And Rocket’s commitment to financial inclusion and wellness aligns perfectly with LISC’s mission and dedication to closing wealth and opportunity gaps—we are deeply grateful for this catalytic partnership.”

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The Accelerator is considered one of several programs supported by the Fund that aim to assist underserved communities overcome systemic challenges in accumulating and transferring wealth.

MISSION INCLUDES A VOW TO SIMPLIFY UNFAIR SYSTEMS

The Fund’s goal is to simplify complex and inequitable systems to make sure that every American has access to stable, healthy housing. It focuses on 4 national investment pillars: ending homelessness, stopping displacement, constructing wealth through homeownership, and bridging the digital divide. A fifth investment pillar, shared with the Gilbert Family Foundation, focuses on constructing opportunity in Detroit. Since 2010, Rocket Community Fund has committed greater than $230 million to community organizations and programs.

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The foundation of the Fund’s work is Neighbor to Neighbor, a door-to-door outreach campaign that connects residents with resources and gathers information to tell future investments. The program began in Detroit in 2017 to scale back tax foreclosures. It has since expanded to Cleveland, Milwaukee and Atlanta.

“The access to housing resources and information, coupled with the connectivity that happens through Neighbor to Neighbor, is the secret sauce of the program,” said Rob Lockett, national housing stability team leader at Rocket Community Fund.

“Through this process, community members become stronger and better able to advocate for themselves.”

As Lockett explains, through Neighbor to Neighbor, “residents are encouraged to get out and talk to each other about housing issues that affect their community and that are most felt at the neighborhood level.”

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SOLVING A FULL SPECTRUM OF HOUSING PROBLEMS

Rocket Community Fund

In 2018, Rocket Community Fund became a lead sponsor of Built for Zero, a nationwide movement of greater than 100 communities focused on ending homelessness. Since 2015, Built for Zero communities have housed greater than 176,000 people.

“Our support for Built for Zero is intended to help communities across the country develop better systems to respond to the challenge of homelessness,” said Rocket Community Fund Executive Director Laura Grannemann.

“The data shows that providing housing with supportive services is not only more effective in reducing homelessness, but also significantly reduces spending on emergency services such as hospitalizations, incarceration and shelters.”

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She added: “By identifying wider trends we can also act early on in the problem to prevent more people from becoming homeless.”

An example of this upstream approach is the recent investment by Rocket Community Fund in Atlanta. In March 2024, the organization announced $250,000 in recent funding to guard senior and elderly homeowners in Atlanta from displacement by paying off previous property balances. This follows a $500,000 investment in 2022 in the Atlanta BeltLine Partnership’s Legacy Resident Retention Program (LRRP), which stabilizes property tax rates for income-qualifying residents through 2030.

Atlanta Mayor Andre Dickens praised efforts to stop displacement of everlasting residents.

“Our vision of ‘one city, one bright future’ can only be achieved through partnerships that prioritize our most critical needs, like stable and safe housing. I am grateful to Rocket Community Fund for their commitment to promoting equity and economic inclusion for Atlantans.”

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Rocket Community Fund understands the vital role renters play in a healthy housing market. In Atlanta, the organization invested $300,000 in the Atlanta Volunteer Lawyers Foundation to strengthen its eviction defense services. It also invested $1.25 million to launch the Cleveland Eviction Defense Fund.

I feel unstoppable. I feel like my destiny is written by me. I’m more confident in my financial stability because if an emergency happens, I now have flexibility.”

While eviction protections for tenants prevent instability, Rocket Community Fund works to assist tenants change into homeowners through programs like Make It Home.

The program, which began in Detroit, allows eligible tenants occupying foreclosed homes to change into homeowners slightly than face eviction. The program uses the town’s “right of refusal” to purchase properties before the foreclosure auction for the worth of the delinquent taxes. The properties are then purchased by a nonprofit partner with financial support from the Rocket Community Fund and sold to the tenant under a land contract for the fee of the delinquent taxes. A complete of 1,500 families have change into homeowners through this system.

BUILDING GENERATIONAL WEALTH

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Rocket Community Fund
Rocket Community Fund

The Rocket Community Fund goals to make sure that more Americans can enjoy the advantages of homeownership and pass on wealth to future generations, especially Black Americans who’ve faced systemic barriers to homeownership.

Since 2010, the wealth gap between black and white families has grown. As the fee of homeownership continues to rise across the country, significant effort and focus will probably be needed to assist reverse this trend.

While the dimensions of the challenge could seem overwhelming, the Rocket Community Fund team uses its core philosophies, ISM, to discover solutions.

“One of our ISMs is ‘You will see it when you believe it,’” Grannemann says. “That means we are driven by positivity and the belief that we can overcome big challenges. Instead of sitting on the sidelines and waiting for change, we work with our social partners to make it happen.”

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This article was originally published on : www.blackenterprise.com
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Business and Finance

Tourism to the USA is refueling. As a result, the center Flight is in the face of a $ 100 million hit

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Flight Center, one of the world’s largest travel agencies, warned that perhaps lose over $ 100 million earnings This 12 months, citing the weakening of the demand for a journey to the United States.

In a statement This week, the Company pointed to “unstable trade conditions” related to changes in the principles of entry in the USA to the Australian Security Stock Exchange (ASX).

This is the first essential indication of the Australian company that traveling to the USA is becoming a major problem. This is due to the growing fears of consumers related to American immigration controls, reports of arresting tourists and rising costs.

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Australian numbers of visitors to the USA fell by 7% in March Compared to the same time last 12 months – the sharpest fall from Covid Pandemic.

Australians should not the only ones who avoid afar. New data in the USA In March, they show sharp declines of visitors from key markets: Germany (decrease by 28%), Spain (25%), Great Britain (18%) and South Korea (15%) to mention only a few. In total, incoming tourism dropped by 11.6%.

Even Canadian travelers, traditionally the most reliable US market, fell by greater than 900,000 or 17% in March, because the growing number of Canadians select Vacation boycott.

What once was a reliable flow of high international travelers becomes a much calmer stream.

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America’s welcome mat is wearing thin

The United States, long sold as a land of possibilities and adventures, are increasingly perceived as unique. Closer control of borders, aggressive enforcement of immigration and a sharp change in the political tone They made travelers careful.

International arrival terminal at the airport in Atlanta: Tourists are considering travel plans in the USA.
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While the statement of the flight center used a cautious language, its general director Graham Turner was clear, saying:

People from Europe, Great Britain and Australia really are not looking for to go to the States, taking into consideration what is happening there. We hear increasingly people are not looking for to undergo passport control.

Reports about tourists arrestedIN Rugged AND deported At airports in the USA over small alleged visa problems or misunderstandings, they increased widely. In some cases, guests had Their phones and electronic devices searched for no clear reason. For many travelers it is Risk is not price taking.

The governments began to answer. Several countriesIncluding New Zealand, Germany, France, Denmark and Finland, updated the official advice on travel for the USA, calling residents Being caution during the visit. Filtering messages by international media is clear: the US is not as easy, protected or friendly because it once seemed.

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But while diplomatic warnings develop into louder, the economic costs of America’s attitudes are only starting to register.

Tourism: Forgotten America’s export

While President Donald Trump hit the tariffs to import goods from most countries, he ignored the contribution of services to the economy. The US actually conducts a surplus of services corresponding to education and tourism. Trump rejected the inheritance of guests as “This is not a big deal“.

Trade wars focused on goods – Cars, steel, agricultural products – but the service sector, which is a greater share in the economy, bears hidden costs.

Tourism is The largest service exports of the USAbringing over $ 2.3 trillion to the economy and one in ten jobs. This is a greater contribution than production tasks that they include about 8% total employment in the USA.

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As a driver economic prosperityTourism is not only free time; He maintains local firms, rural economies and thousands and thousands of maintenance.

Double blow for tourism

While the decline in arrivals has been widely reported, experience for many who still determine to visit, might also change.

Tourism is based on global supply chains, from food to hotel facilities to rented automotive fleets. Commercial war tariffs have increased expenditure costs common. Hotels, restaurants, airlines and attractions are handing over these higher costs to customers.

Miami Beach, Florida, USA
Miami Beach, Florida: Tourism is one in ten American jobs.
MDV Edwards/Shutterstock

Working deficiencies intensify the problem. Almost (*100*)20% of the American hotel strength He was born abroad. Cuts for seasonal work visas AND Increased concerns about deportation I left many firms fighting for locating staff, combining existing labor shortages.

. The weight is the heaviest on small and medium -sized enterprises, which Form the US economy background And play a key role in accommodation, restaurants and native tourist experiences.

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Quiet but expensive erosion

Tourism is not only a large part of the economy; It’s also Soft powerBy shaping the way the world perceives the nation through its culture, values ​​and hospitality.

Every visitor who feels undesirable, controlled or dissatisfied is not only lost sales, but Lost connection.

The research group forecasts the economy economics lose to $ 10 billion In the case of international travel in 2025, if current trends are continued.

And although advertisements about production work are approaching headers, the slow erosion of the American tourist brand can leave a longer, deeper scar on its culture, communities and place in the world.

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Lowering the flight center is not an isolated warning. This is a symptom of a wider change, which is a good risk by reversing visitors.

And for hundreds of American firms, employees and communities – and now also Australian – losses might not be so easily rejected.

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This article was originally published on : theconversation.com
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Business and Finance

Tariffs can grow, but also a black strategy

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With the rise in inflation and tariffs, black entrepreneurs don’t shrink with fear – they seem, strategies and support them forward. I saw it first hand on Tuesday evening in Russell Innovation Center for Entrepreneurs (Rice) in Atlanta, where dozens of black founders gathered on a powerful night of dialogue, combination and brightness based on solutions.

The event, a part of the continuing programming of Rice’s “retail readiness”, was greater than just a panel. It was a forum of survival – and a reminder that owners of black firms at all times had creativity and courage to adapt under pressure. At a time when economic winds are essentially the most difficult to hit products based on products, this community is predicated on strategy, not a shortage.

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Tariffs have increased, but wisdom too

One of the essential challenges was the growing load of tariffs for imported goods that increase costs around the globe – from materials and packaging to international shipping. While the specter of economic uncertainty increased, the climate within the room was not panicked.

Asked in the event that they are afraid of growing tariffs, only a few participants raised their hands. But asked in the event that they feel influence, almost everyone did that. Instead of alarm bells, the conversation focused on solutions: improvement of logistics, taking control of the warehouse, limiting unnecessary expenses and re -assessing third party suppliers.

The prevailing message: be agile, not afraid. Panelists called us to regulate surgery before making drastic changes. The goal is just not to shrink in response to pressure – it moves smarter.

Thinking about a larger, no less

Another powerful? You have to redefine what “little business” really means. Many black entrepreneurs limit their scale from habit or perceived restrictions. But, because the panel noted, in response to federal definitions, a small company can employ as much as 500 people. This implies that we’ve got a place to dream – and constructing – constructing.

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Terri-Nichelle Bradley, the founder, entered the home along with her own journey. Known for putting educational toys within the principal retailers, akin to Target, Bradley now opens her own brick store in Atlanta on May 14. It is a brave turning point that restores ownership in her hand-her story was a unique example of what it means to regain narrative and strategy.

“Black business owners do not need every answer right away,” she said within the room. “We just have to want to figure it out.”

Recovering the narrative of Dei

The conversation also concerned a hard truth: the rise in funds and guarantees of the corporate after 2020 is assumed. But the energy within the room was not bitter – it was focused. If external support dries, the reply is just not waiting – it’s best to focus again.

Daughter of Carol sold an independent entrepreneur after a decade under the property of L'Oreal USA

Panelists encouraged us to dual authenticity and a deeper reference to the communities that may already take us. This means consistently appearance, without floating and nurturing relationships with those that deliberately buy black, women and veterans.

It is just not nearly representation-it will devote property, self-determination and economic independence.

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The evening ended with a high note with practical network activities. We were asked to avoid wasting two things: what we wanted and what we can offer. Then we exchanged this information with someone in the entire room. It was greater than a icebreaker – it was a plan.

The message was crystal clear: relationships are resources. And in such rooms, cooperation is a currency.

At a time when the headlines speak about recession and withdrawal, the entrepreneurs with whom I sat do the other. They should not waiting for saving or wonderful financing. They construct their future, one deliberate movement directly.

No panic. Just a goal. And a lot of power within the room.

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(Tagstranslat) entrepreneurship

This article was originally published on : thegrio.com
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Business and Finance

Hope Operation celebrates the day of green socks

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John Hope Bryant


Operation John Hope Bryant Hope celebrated the end of the month of financial knowledge On April 30 with Green Socks Day Challenge as a visual option to emphasize the importance of financial knowledge.

As a nationwide movement, Hope Bryant and the stars of the corporate world, sport and entertainment supported the challenge of Green Socks Day, wearing live socks, stating: “Put your best foot forward.” In cooperation with Operation Hope, the initiative was supported by financial knowledge for everybody (FL4A) with a view to promote financial knowledge as national priority and gain adhesion in various state lines, strengthening people, organizations and communities to take crucial activities by supporting financial education for everybody.

Participants were encouraged to take a selfie or video in green socks and publish it in social media using the hashtag # Greensocksday. The quiz can also be available to people fascinated about assessing their financial skills. According to a press release, Operation Hope will probably be distinguished by green socks on the Times Square Nasdaq in New York.

While socks may be bought at Walmart locations, other firms supporting this initiative include the most important financial institutions, comparable to the American Bank, Trust and Huntington Bank. Other firms on board are iheartmedia, Delta Air Lines, MLB, MLS, NBA, NHL, Nascar, Nasdaq, Shopify, OpenAI and UPS.

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Hope Bryant also received support from the US government at the starting of the annual celebration. Meeting with the Secretary of the Treasury Scott Bessent, two long -time colleagues emphasized the importance of financial education built into the structure of American life, discussing ways of deepening cooperation between private and non-private sectors with a view to extend access to financial tools and knowledge. “Too long, knowledge of finances was treated as a luxury,” said secretary Bessent.

“This is a necessity, just like reading and writing. John and I have been leveled in this for almost a decade and I am proud that I can stand with him in April and later.”

In addition to April, corporations, small firms and social organizations are encouraged to have interaction employees in the initiative by organizing events related to financial skills and pushing financial resources.

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This article was originally published on : www.blackenterprise.com
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